Beyoncé Buys Out Ivy Park, Severs Ties With Philip Green
Beyoncé has bought out her athleisure clothing label, Ivy Park, cutting ties from Topshop tycoon Sir Philip Green, who has been under fire for harassment and bullying claims.
Her company Parkwood has reportedly bought out the British businessman’s 50 percent share in Ivy Park, which she launched in 2016 with Green’s Arcadia Group.
Beyonce and Green announced their partnership in 2014, revealing they were linking up to design an athletic streetwear collection to be sold at Topshop. Beyoncé modeled the first range.
In a statement, Ivy Park,“after discussions of almost a year, Parkwood has acquired 100 percent of the Ivy Park brand. Topshop/ Arcadia will fulfill the existing orders.”
The buyout comes weeks after Green was accused of sexual harassment and workplace bullying by a number of his Arcadia Group employees. The billionaire has denied all of the accusations of sexual harassment and racial abuse made by five former employees.